On 15 June 2020, the European Banking Authority (EBA) issued a call for input to understand the scale and drivers of ‘de-risking’ at the EU-level and its impact on customers. The call forms part of the EBA’s work to lead, coordinate and monitor the EU financial sector’s anti-money laundering/counter the financing of terrorism efforts and is aimed primarily to understand why financial institutions choose to de-risk instead of managing the risks associated with certain sectors or customers.
The call for input runs until 11 September 2020.
The feedback gathered from this call for input, will feed into the EBA’s next opinion on the risks of money laundering and terrorist financing affecting the EU’s financial sector that the EBA is mandated to issue under Art. 6(5) of Directive (EU) 2015/849 that will be published in Q1, 2021. It may also inform other EBA policy outputs.